The “Shared Prosperity” government of Imo State and 34 States, were beneficiaries of the Federal Government disbursed N66.5 billion on the basis of the amended Covid -19 responsive 2020 budget results achievement.
Hassan Dodo, Director of Press, Ministry of Finance, Budget and National Planning, Abuja, in a statement, said each State received N1.9 billion naira ($5 million).
According to the statement, the programme is wholly financed with $750million loan from the International Development Association (IDA).
The disbursement is under the performance based grant component of the World Bank assisted fiscal transparency, accountability and sustainability (SFTAS) programme for results.
“Rivers State is the only one that missed out on the grant due to its inability to meet the eligibility criteria which requires the states to have passed and published online on a state’s website by July 31, 2020, credible, fiscally responsible Covid 19 responsive amended 2020 budgets duly approved by the State House of Assembly and assented to by the state Governor”.